Acquisition of Geoservices

ASTORG PARTNERS has led the acquisition of 100% of the capital of GEOSERVICES from Mr. Gaston REBILLY, its founder (Groupe GEOFINANCE 59.2%),IFP (33.6%), SGAM 4D (5.5%) and some senior management members. On this occasion, GEOSERVICES' management team, led by Bruno BURBAN (CEO) and Benoît DEBRAY (COO), become significant shareholders, acquiring close to 9% of the company's capital alongside the Astorg III fund (52.6%); Groupe GEOFINANCE remains a major shareholder with a 38.4% stake in the new holding company.

GEOSERVICES provides consulting and advisory services to companies involved in oil and gas exploration and drilling. Capitalizing on its unrivalled R&D capacities, which represent one of the group's key competitive advantage, GEOSERVICES provides its clients with sophisticated data collection and analysis tools, operated by highly specialized in-house experts. GEOSERVICES, with sales of ca. EUR 220 millions in 2004, enjoys a global leadership position on its main business unit (« Mud Logging »). It employs over 4,000 people worldwide, representing over 50 nationalities. GEOSERVICES boasts a local presence in 50 countries, and executes its assignments in the most extreme conditions and diverse geopolitical environments.

The ASTORG PARTNERS team in charge of this deal was led by Joël LACOURTE - partner - assisted by Christian COUTURIER and Frédéric SEBBAG.

Commenting on the transaction, Joël LaCourte said "As traditional supporters of companies with strong strategic fundamentals, and of family transmissions, we have rarely come across an opportunity with such compelling features : a strong entrepreneurial culture, a management team with a proven ability to navigate through thick and thin, strong differentiating factors based on a very active R&D policy. We are honored that Groupe Geofinance has accepted to become our partner, and we are already reviewing some significant growth initiatives for the company."

On behalf of Groupe Geofinance, Hubert Roudot declared "We have found, with Astorg Partners, a team of highly skilled and supportive professionals, who have understood the strategic issues of Geoservices, and therefore represented the best partner to pursue an ambitious growth strategy."